Tandem Diabetes Care Inc (NASDAQ:TNDM) traded down 5% during trading on Thursday . The company traded as low as $59.14 and last traded at $60.23, 2,956,441 shares were traded during mid-day trading. An increase of 70% from the average session volume of 1,736,032 shares. The stock had previously closed at $63.43.
A number of research analysts have commented on the stock. Svb Leerink assumed coverage on shares of Tandem Diabetes Care in a research report on Monday, May 13th. They issued an “outperform” rating and a $83.00 target price on the stock. UBS Group upped their target price on shares of Tandem Diabetes Care from $53.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. Lake Street Capital reaffirmed a “buy” rating on shares of Tandem Diabetes Care in a research report on Monday, June 17th. Bank of America reaffirmed a “neutral” rating and issued a $65.00 target price on shares of Tandem Diabetes Care in a research report on Friday, May 17th. Finally, Stifel Nicolaus upped their target price on shares of Tandem Diabetes Care from $58.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Tandem Diabetes Care presently has a consensus rating of “Buy” and an average price target of $68.38.
The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -25.59 and a beta of 0.33. The company has a current ratio of 2.43, a quick ratio of 2.13 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $64.11.
Tandem Diabetes Care (NASDAQ:TNDM) last issued its quarterly earnings results on Thursday, August 1st. The medical device company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.20. The business had revenue of $93.26 million for the quarter, compared to analysts’ expectations of $69.95 million. Tandem Diabetes Care had a negative net margin of 50.73% and a negative return on equity of 40.76%. The business’s quarterly revenue was up 173.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.33) earnings per share. On average, research analysts forecast that Tandem Diabetes Care Inc will post -0.81 EPS for the current year.
In other news, EVP David B. Berger sold 2,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $67.76, for a total transaction of $135,520.00. Following the sale, the executive vice president now owns 5,311 shares of the company’s stock, valued at $359,873.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian B. Hansen sold 13,031 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $70.04, for a total transaction of $912,691.24. Following the sale, the executive vice president now directly owns 16,022 shares in the company, valued at approximately $1,122,180.88. The disclosure for this sale can be found here. Insiders have sold 76,066 shares of company stock worth $5,315,927 in the last three months. Corporate insiders own 6.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of TNDM. Nisa Investment Advisors LLC lifted its position in shares of Tandem Diabetes Care by 53.3% during the second quarter. Nisa Investment Advisors LLC now owns 460 shares of the medical device company’s stock worth $30,000 after purchasing an additional 160 shares in the last quarter. Bremer Bank National Association purchased a new stake in shares of Tandem Diabetes Care during the first quarter worth approximately $31,000. TRUE Private Wealth Advisors purchased a new stake in shares of Tandem Diabetes Care during the second quarter worth approximately $33,000. James Investment Research Inc. increased its stake in shares of Tandem Diabetes Care by 15.9% during the second quarter. James Investment Research Inc. now owns 1,315 shares of the medical device company’s stock worth $85,000 after buying an additional 180 shares during the period. Finally, Advisor Group Inc. increased its stake in shares of Tandem Diabetes Care by 38.2% during the fourth quarter. Advisor Group Inc. now owns 2,351 shares of the medical device company’s stock worth $89,000 after buying an additional 650 shares during the period. 80.85% of the stock is currently owned by institutional investors and hedge funds.
About Tandem Diabetes Care (NASDAQ:TNDM)
Tandem Diabetes Care, Inc, a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States. The company's flagship product is the t:slim X2 insulin delivery system that comprises t:slim X2 pump, its 300-unit disposable insulin cartridge, and an infusion set.
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